it has failed miserably. it has failed in history. if it fails from campaign economics. the bush tax cuts disproportionately benefit high- income people. if we get rid of those we will save a lot of money and there is minimal risk to the short term income. high income, whether you are with a wall street bond trader or a ceo of a corporation, they tend to be less vulnerable to the ups and downs of their income and middle class people prepare -- people. linney to support those people. that will lock in a savings again. -- we need to support those people. that will lock in savings again. host: next caller. get -- and can't we do away with the federal reserve? if they don't have a arwin power, they cannot have debt. -- if they do not have borrowing power, they do not have debt. that we cannot borrow money from china. let's do away with it. everybody buckle down for a decade and let's get this thing came down. host: let's go to our next caller in massachusetts. the democrats line. caller: looking at the we go back -- at the fiscal cliff, we go back to 2001 with the lowering o